The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
May. 21, 2013
Filed:
May. 23, 2011
Mark Horbal, Chicago, IL (US);
Mark Horbal, Chicago, IL (US);
SHC Direct, L.L.C., Oakbrook Terrace, IL (US);
Abstract
A system and method that delays or eliminates the initial funding of cards having a stored or redemptive value. A database or other data storage device stores card identifying information until such time that an actual request for use of the card is made, or until the system otherwise determines that the card has expired. If the system determines that the card has expired prior to a redemption request, the card will not be funded, thereby allowing the merchant to avoid paying financing charges associated with the funding of the card. If the card is still valid, the applicable purchase value from the consumer's transaction will be subtracted from the card's value. In one embodiment, if the amount of the purchase exceeds the redemptive value of the card, the card may be used without having to fund the card. If there is value left on the card after the transaction, the card may be funded and the remaining value stored for future use.